Demand & Law of Demand

Demand & Law of Demand

9th - 12th Grade

15 Qs

quiz-placeholder

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Demand & Law of Demand

Demand & Law of Demand

Assessment

Quiz

Social Studies

9th - 12th Grade

Hard

Created by

Quizizz Content

FREE Resource

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When the price of good A rises, people start to drink good B. In this case, what is good B considered?

luxury good

complementary good

substitute good

normal good

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the relationship between the Price and Quantity Demanded?

Positive Relationship

Direct Relationship

Inverse Relationship

Mixed Relationship

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image
The diagram represents a
increase in demand
decrease in demand

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The desire to have some good or service and the ability to pay for it

supply

equilibrium

demand

quantity demanded

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The law of demand states; there is an INVERSE relationship between price and quantity demanded. Which of the following is not a true statement?

Price goes up qty demanded goes down.

Price goes down, qty demanded goes up.

Price goes up, demand goes down.

All answers are correct.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How is a decrease in the price of a good illustrated on a demand graph?

The demand curve shifts to the right.

The demand curve shifts to the left

There is upward movement along the demand curve

There is downward movement along the demand curve.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A change in the price of a good causes people to buy more or less of an item. This best describes the concept of

the demand curve

change in quantity demanded

change in demand

elasticity

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